Deal insight

CNOOC acquires a stake in Chesapeake's Niobrara acreage

Loading current market price

Get this report

Loading current market price

Get this report as part of a subscription

Enquire about Subscriptions

Already have subscription? Sign In

Further information

Pay by Invoice or Credit Card FAQs

Contact us

Contact us about this report

Report summary

CNOOC Ltd. has entered into an agreement with Chesapeake to acquire a 33.3% interest in the company's Niobrara Shale acreage. The transaction follows the Eagle Ford JV between the companies announced in October 2010. As in the earlier deal CNOOC will pay Chesapeake an up front sum in addition to a cost carry. The total consideration is US$1 267 million (nominal). We value the deal at an Implied Long term oil Price of US$82/bbl (NPV10 in 2011 terms). Unit metrics equate to an ...

What's included

This report contains

  • Document

    CNOOC acquires a stake in Chesapeake's Niobrara acreage

    PDF 1.41 MB

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 9 images and tables including:

Images

  • Implied Long-term Oil Price sensitivity to ultimate recovery
  • Vicinity map of acquired assets

Tables

  • Executive summary: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Upstream assets: Table 1

Questions about this report?

  • Europe:
    +44 131 243 4699
  • Americas:
    +1 713 470 1900
  • Asia Pacific:
    +61 2 8224 8898